BENGALURU: Britain's financial regulator urged property funds on Friday to ensure that if they have to sell assets to meet redemption requests they do not disadvantage investors that remain.

In the wake of Britain's June 23 vote to leave the European Union, several property funds have suspended trading and others have cut their values to stop a tide of redemption requests from investors.

The moves have left more than 18 billion pounds ($23 billion), or just over half of the total investments by all so-called open-ended property funds, frozen in the biggest seizing up of investment funds since the 2008 financial crisis.

The Financial Conduct Authority (FCA) said on Friday that each fund should ensure its assets were valued "fairly and accurately" and that any subscriptions or redemptions of units took place at a fair price.

It also said that if a fund had to dispose of underlying assets to meet the usually high volume of redemption requests, it should ensure disposals did not disadvantage remaining investors.

Many property investors remember the 2008 crisis when funds hit by huge redemptions were forced into a firesale of commercial buildings, eventually bringing central London property prices down by as much as 40 percent.

The FCA said it was continuing to liaise with property funds and called on their managers to inform it before suspending any funds.